Metro Vancouver new home prices remained flat in September, while edging up slightly year-over-year, Statistics Canada said Wednesday.

The federal agency said prices of new homes in Metro Vancouver remained the same compared to August, but rose 0.1 per cent from September 2010 to September 2011.

In Victoria, new home prices were also flat in September compared to August, but dropped 1.6 per cent year-over-year.

Nationally, new home prices edged up 0.2 per cent from August to September and 2.3 per cent from September 2010 to September 2011.

Nationally, the price increase followed a 0.1-per-cent gain in August and was the sixth straight monthly increase in the new housing index.

Economists had expected prices to rise by between 0.1 and 0.2 per cent in September.

The Toronto and Oshawa, Ont. region — accounting for 27 per cent of the index — recorded a gain of 0.3 per cent from August to September. The smaller Winnipeg region had the largest percentage increase at 1.4, and Halifax gained 0.7 per cent.

“In Winnipeg, price increases were primarily the result of higher material and labour costs as well as higher land values,” Statistics Canada said. “Builders in Halifax cited higher material and labour costs as the main reason for their price increases.”

Prices were higher in eight of the 21 metropolitan regions surveyed, while five declined and eight were flat.

Among the regions posting declines, the biggest drop from August to September was in the New Brunswick area encompassing Saint John, Fredericton and Moncton, where the index declined 0.3 per cent. The Edmonton area was also down 0.3 per cent.

“Some builders in Saint John, Fredericton and Moncton cited slower market conditions as the primary reason for their price decreases, while a few builders in Edmonton moved to new development areas with lower priced lots,” the agency said.

On a year-over-year basis, prices were up 2.3 per cent in September, in line with 12-month increases in July and August.

The biggest 12-month gains in September were in Winnipeg, up 5.5 per cent, and the Toronto and Oshawa region, up 5.4 per cent.

On Tuesday, Canada Mortgage and Housing Corp. reported housing starts were down 1.1 per cent to an annualized rate of 207,600 units. That compared to 208,800 the month before, revised up from the previously reported 205,900.

Meanwhile, data last week showed construction intention weakened in September, as the value of building permits declined for the third straight month.

StatsCan said permit values fell 4.9 per cent to $5.6 billion during the month.

Source: Brian Morton, Vancouver Sun

Canada’s banks, which emerged from the financial crisis mostly unscathed, stole the spotlight as they were recognized as the world’s strongest, but there’s a good argument to be made that our real estate market deserves some glory, too.

Consider: for the better part of a decade house prices have been on the rise — apart from a brief decline in early 2009 — in most major cities across the country. If you zoom in on certain regions like Calgary or, say, Ontario cities like Windsor that have been hit by troubles in the auto industry, the curve gets a bit bumpy, but on a national basis Canadian real estate looks pretty good. Compared to the rest of the world, it’s a bastion of stability.

The U.S. market is a basket case. Since 2006 prices have tumbled more than 30% across the country and even now distressed sales account for more than one-third of total transactions, according to Moody’s.

In Europe the numbers are even more dramatic. In Spain, prices almost doubled between 2000 and 2006 but over the past three years they’ve fallen as much as 25% in some regions. House prices in Ireland have fallen below the level they were at in 2003, according to Bloomberg. Meanwhile, the U.K. market has been treading water since 2010 with some economists calling for a steep decline as the troubled economy begins to bite.

The Canadian housing market “is like the fountain of youth,” said one analyst. Rising real estate values, he explained, have helped drive consumer spending and provided fuel for the home building industry, a major source of jobs. According to the CMHC, residential development represents about 20% of the domestic economy.

Importantly, residential mortgages are the biggest single asset on bank balance sheets. When the global meltdown that started in 2008 began to threaten the banks in this country, the federal government stepped in by buying up billions of dollars of mortgages from lenders while the CMHC boosted its securitization program. The move effectively moved the risk of default from the banks to the government, providing banks with incentive to increase mortgage lending. Which they did.

But by boosting the level of securitization the government provided a buffer between the housing market and the banks, allowing them to benefit from rising prices but at the same time protecting them from potential losses in the event of a correction.

The good news is that at least for the moment a correction does not appear to be in the cards.

“The housing market is quite healthy,” said Mathieu Laberge, deputy chief economist at the CMHC. “Despite the financial uncertainty in global markets, economic fundamentals remain supportive of the housing market in Canada.”

Indeed, according to Capital Economics, things are about to heat up again. Growth in housing investment “appears to have re-accelerated again in the third [quarter],” the research group said in a recent note, adding that overall residential investment could get a boost for at least one or two more quarters and possibly more.

Source: John Greenwood, Financial Post

Just listed on AssignmentsCanada.ca is a condo assignment in the Trump International Hotel & Tower development. This downtown Toronto condo is situated in the pinnacle of luxury in the heart of Toronto’s Financial district. Trump International Hotel & Tower Toronto will soar 60 stories above Bay Street and the suites features stone flooring and wood-finished walls, marble flooring in the bathroom, and European design.

This hotel unit can be part of the Trump Toronto hotel rental program generating significant monthly cashflow. With assignment of this contract there are numerous savings and rebates available to the purchaser:

* Price below retail – $50,000 below developer’s price

* HST exemption – $96,000 savings

* Toronto Land Transfer Tax exemption – $15,000 savings

*GST Rebate – $15,700

*Total Savings: $176,700

There is a tremendous amount of equity given to the purchaser of this assignment.

Individuals and corporations can purchase a luxury hotel suite for personal or business use right in the heart of downtown Toronto. Owners can occupy their suite as much or as little as desired, pleasuring in complete access to every amenity. Upon departure, owners’ personal effects will be secured before their suite is made available to future hotel guests.

In addition, owners will receive revenue with each purchased room night while enjoying the tax benefits associated with ownership. They may sell or transfer ownership at any time.

Please follow this link, Trump Tower Toronto condo assignment for sale, to view the property’s details and to contact the seller directly.

The Brookland is a new real estate condo development in the heart of Surrey – one of British Columbia’s fastest growing cities. It is situated within minutes of the Surrey-Gateway SkyTrain station putting New Westminster, Burnaby, Metrotown and Downtown Vancouver just minutes from your door and making commuting to work or special events, just so easy.

Closer to home, Central City Mall is down the street from The Brookland, as well as abundant green spaces that make up the City of Parks. Take a class. Catch a movie. Surrey has some undiscovered gems like the Surrey Arts Centre, the impressive new SFU Central City Campus and the Civic Centre which includes a flagship library, community plaza, and City Hall.

Surrey is strategically located with the US border to the south and the Fraser River to the north, making it part of the Gateway to the Pacific. Approximately one third of the land in Surrey is agricultural providing a high level of local sustainability with fresh fruit and produce always close at hand. One of the area’s most popular past-times, golf, is well catered for with 10 courses and several driving ranges.

The future is here. Come and be part of a revitalized Surrey.

For more information on Surrey’s latest real estate condo development, The Brookland, please visit thebrookland.com, to learn more about this exciting opportunity.

Just listed on AssignmentsCanada.ca is a condo assignment in the Crystal Blu development in Yorkville, at Bloor and Yonge Streets. This luxury 1-bedroom condo features 10′ Smooth Ceilings, 8′ Doors & 6″ Baseboards, Pre-finished Dark Oak Engineered Hardwood Floors Throughout, Dark Oak Cabinets Combined with Coloured Glass Upper Cabinets, Granite Countertop with Undermount Sink, Neutral Ceramic Tile Backsplash & Valance Lighting, Stainless Steel 30″ Wide Refrigerator with Lower Freezer Door, Stainless Steel 30″ Ceramic Cook-top with Touch Controls, Stainless Steel 30″ Wall Oven, Stainless Steel Whisper Quiet Dishwasher, Stainless Steel 1.6 cu ft Microwave, Stainless Steel Chimney-style Hood-fan, Full-Size Stacking Washer & Dryer, Marble Floors & Countertop in the Bathroom.

Featuring 35 Storeys and only 138 Suites, this is a newly constructed building in the heart of Yorkville across from the Manulife Centre, Holt Renfrew and William Ashley.

Please follow this link, Crystal Blu assignment Yorkville, to view the property’s details and to contact the Realtor, Sean Sezlik of Royal LePage Urban Realty, directly.

Just listed on AssignmentsCanada.ca is a condo assignment in the X Condos development in the heart of downtown Toronto. A dramatic 44-storey modern point-tower designed by the award-winning firm, architectsAlliance at the NorthWest corner of Charles Street East and Jarvis Street, Toronto.

Featuring a double-height lobby and extensive amenities designed by internationally renowned design firm Cecconi Simone. Amenities will be located on the entire third floor and will include fitness and weight rooms, his and hers steam and change rooms, games room, media room, lounge, library, demonstration kitchen and dining room. This floor opens onto a spectacular roof garden designed by the acclaimed landscape architect Janet Rosenberg and Associates, which will include an outdoor swimming pool, hot-tub, seating areas, barbeque, outdoor gas fireplace and tree planting.

Please follow this link, X Condos assignment Toronto, to view the property’s details and to contact the Realtor, Sean Sezlik of Royal LePage Urban Realty, directly.

Just listed for sale on BestHomesBC.com is a luxury 2-Bedroom, 3-Bathroom Condo at The Fairmont Pacific Rim Estates in Vancouver’s Coal Harbour.

This is the most desirable property listed at The Fairmont. A stunning NorthWest corner residence with forever water and mountain vistas from this gorgeous 2-bedroom, 3-bathroom waterfront suite at the most luxurious and sought-after address in Vancouver, The Fairmont Pacific Rim Estates.

Luxuries include a chef’s kitchen with Sub-Zero, Miele, Italian cabinets, and a gas cooktop. The open plan layout is perfect for entertaining.

The views from the balcony will leave your guests speechless. Spacious bedrooms with large ensuite spa bathrooms featuring the most spectacular stonework in the city. Technology package upgrade includes touch panel and remote control electric Lutron blinds, lighting, music and television.

Two parking, storage and the best amenities in the city: pool, hot tub, sauna/steam, gym and 24-hour room service.

Please follow this link, Fairmont Coal Harbour Condo for sale, to view the property’s details and to contact the Realtor, Shaun Kimmins of Century 21 In Town Realty, directly.

Just listed on AssignmentsCanada.ca is a condo assignment in The Beasley in the popular Yaletown district of downtown Vancouver. This prestigious building, The Beasley, is located at the very centre of Downtown Vancouver at 888 Homer Street. This condo has floor plan A – one of the largest two-bedroom plans at 930 sq.ft. – and includes two bedrooms, a walk-in closet, a den, two bathrooms (one ensuite) and a balcony from which to enjoy some of Downtown Vancouver’s finest views.

Yaletown’s Beasley development represents the finest in Vancouver architecture, combining sustainability with contemporary design and unique features: Heated Tile Floors. Gleaming Hardwood. Stone Slab Countertops. KitchenAid Appliances.

This 33-storey condominium tower contains 211 units and seven levels of underground parking. The project also has a heritage building on the site “The Homer” built in 1913 (current location of the Homer Cafe) This will be transformed into a high end lounge and restaurant. The building is named after former Vancouver City Planner Larry Beasley. The project will be mixed use including the lounge & restaurant, four other commercial units on the ground floor of the Beasley Tower, and two floors for office space. The ground floor of the tower will have 3 elevators, a fully equipped gym, party room with a pool table, kitchen and dining room and a garden terrace. Also on the 8th floor will be a 2000 sq.ft. terrace dedicated to dogs’ physical fitness.

Please follow this link, The Beasley Yaletown condo assignment, to view the property’s details and to contact the Realtor, Darin Chamberlain of Sutton Group WestCoast Realty, directly.

Just listed on BestHomesBC.com are 160 Acres of prime real estate development land on Kelowna Mountain.

Kelowna Mountain is centrally located in the Upper Mission, minutes away from the neighbouring Village of Kettle Valley – voted Best Community in Canada. Lot A is a parcel of 160 acres in size with unstoppable views facing west towards the lake, valley and downtown Kelowna, and that stretch south past Peachland and north past Lake Country. It is of impact in its undeveloped state and with its RU1 zoning has major potential for the future. The property has frontage onto Chute Lake Road which is the backdoor access to the charming wine region of Naramata. Immediately adjacent to the right the property is currently being developed as the Kelowna Mountain Suspension Bridge Winery and is sure to become an attraction.

Lot A is an exceptional holding and development property that due to the nature of its size, proximity to downtown Kelowna and the popular Lakeshore district and impressive character is certain to become an invaluable piece of real estate.

Please follow this link, Okanagan property for sale, to view the property’s details and to contact the Realtor, Maria Peters of Sotheby’s International Realty Canada – Okanagan Collection, directly.

Just listed on BestHomesBC.com are these ski condos in Sun Peaks Resort’s Delta Residences. Four Diamond resort living at a world class, year-round destination just 45 minutes from Kamloops, BC. Own a fully-furnished family sized 1 or 2 bedroom mountain condominium for a quarter of the price.

Attached to the award-winning Delta Sun Peaks Hotel, each mountain condominium is fully-furnished to the Delta’s Four Diamond standard including gourmet kitchens and full access privileges to all Hotel amenities such as room service, health club, ski concierge, pool and hot tubs.

Quarter Ownership allows you to invest and enjoy in world class recreational property in a manner that best matches your busy lifestyle. It’s perfect. After all, most people only use their vacation homes about one week per month, on average.

The suites are maintained, managed and cleaned by the Delta hotel. Quarter ownership allows buyers to enjoy the year-round activity without the hassle of second home maintenance.

Sun Peaks has emerged as a world class, year-round destination resort – a perfect mix of sun and snow: more than 2,000 hours of sun a year, along with 220 inches (5.6 metres) of Champagne Powder.

This is Sun Peaks’ premier location, 100% ski-in/ski-out.

Please follow this link, Sun Peaks Resort Ski Development – Delta Residences, to view the project’s details and to contact Peter Nixon of S. P. Valley Developments Ltd. Partnership directly.